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Michigan Couple Honored For Paying Off $92,000 Credit Card Debt

Friday, September 23, 2011 - 10:48 AM
From CreditCards.com
The U.S. government can learn a lot about shedding debt from Jerry and Sue Bailey.

The Jackson, Mich., couple paid off $92,000 in credit card debt in 5-1/2 years. "I still can't believe it when I hear the amount. I don't wish this on anybody," Sue Bailey says.

The couple's massive debt reduction earned them the Clients of the Year award from the National Foundation for Credit Counseling, a nonprofit association of credit counseling agencies that help consumers manage their finances and get out of debt. The winners were announced this week at the group's annual meeting in San Francisco.

How did the Baileys end up in such a predicament?

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Oct 15, 2010
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